I get my news generally through Jon Stewart and the Daily Show. I know, I know not the best way to stay informed. And it can cause embarrassment when like at book club someone it talking about a current event and since I heard it on the Daily Show I thought it was a joke. So in that vein here is an explanation of the sub prime situation.
And in my own defense this was sent to me by Matt, my investment banker stepson who is just back from London.